sitting at desk monday morning in london.
fact - no deal.
bullshit rumours again.
fact - no deal.
bullshit rumours again.
£1.75 trillion deal to save the euro
- Thread starter ASusilovic
- Start date
2 trillion is peanuts to ring-fence Greece. Recapitalization, controlled default and let´s move on.
Europe is a mess.
But they could have taken the easy route like Ben Bernake.
But their marriage contract prevents them openly printing and bank rolling Govt defecit funding and saving Banking cartel (all collateral given by US banks to borrow from FED is worth 10 cents.But they got 90% worth loans.)
Despite saving Greece with loan hair cuts(later portugal,italy,spain etc),
I dont think they can ask these Govts to cut Govt size (bloated salary,pension etc),collect proper taxation with pro business policies.
These govts again will fail with in few years.
printing their own currency is the solution to make economies competitive.(by devaluing)
But they could have taken the easy route like Ben Bernake.
But their marriage contract prevents them openly printing and bank rolling Govt defecit funding and saving Banking cartel (all collateral given by US banks to borrow from FED is worth 10 cents.But they got 90% worth loans.)
Despite saving Greece with loan hair cuts(later portugal,italy,spain etc),
I dont think they can ask these Govts to cut Govt size (bloated salary,pension etc),collect proper taxation with pro business policies.
These govts again will fail with in few years.
printing their own currency is the solution to make economies competitive.(by devaluing)
Pure propaganda on the Part of the IMF (who now needs money) and the rest of the EMU.
No matter how you cut it, dice it, slice it, the World Financial System is broken, finished and the idea needs to be re-thought. The entire system needs to be replaced. No idea what that will be other than "Free Market" ideas...however, there are zero Free markets in the US or EMU.
Bottom line, millions are about to wake up to far less retirement, less job prospects, less hope for them going forward.
The EMU is trying to stay off a Revolution. Unlike the US, where many sheeople are brain dead and stuck watching "reality TV", the European youth and middle class have no problem rioting, revolting and over throwing the "Strong Arm" of the Banking System.
2012 will be the year of revolutions, either very violent or more peaceful. Only time will tell.
People who are awake are protecting their assets, out of the Global Markets.
The only question is, where does the rioting and revolutions take us ......to a more open an free society world wide or a stronger form of world Dictatorship?
once again Time will Tell.
No matter how you cut it, dice it, slice it, the World Financial System is broken, finished and the idea needs to be re-thought. The entire system needs to be replaced. No idea what that will be other than "Free Market" ideas...however, there are zero Free markets in the US or EMU.
Bottom line, millions are about to wake up to far less retirement, less job prospects, less hope for them going forward.
The EMU is trying to stay off a Revolution. Unlike the US, where many sheeople are brain dead and stuck watching "reality TV", the European youth and middle class have no problem rioting, revolting and over throwing the "Strong Arm" of the Banking System.
2012 will be the year of revolutions, either very violent or more peaceful. Only time will tell.
People who are awake are protecting their assets, out of the Global Markets.
The only question is, where does the rioting and revolutions take us ......to a more open an free society world wide or a stronger form of world Dictatorship?
once again Time will Tell.
Quote from dhpar:
i did say none of that.
my point is that you do not need 2trn when you have 2trn. even if we consider greece going out at 50 cent and every lost cent needs to be recapitalized then less than 75bn makes the trick for european banking sector (yeah that's how tiny the problem is...). on top of that this will be done largely by warrant and equity infusion via TARP like process (by governments and partly by ECB).
this is what markets were saying to European politicians for over a year now - but as the saying goes the European politicians need to try every bad way first before they finally fix it.
the importance of 2trn is that it keeps the market stable while the Greece is send to where it should be. the money will be available for buying new Greece bonds (and other bonds) so that everybody can sort their messy fiscal problems in peace and importantly for cheap rates. that's basically a definition of a controlled default. Ireland is already out of the worst mess and Italy and Spain is heading in a good direction. for instance US never did a 10% of what these countries did to improve their fiscal problems.
i am not taking position on if it is bad, moral, etc. i do not give a shit. i live in europe and it is important to keep europe strong. US certainly does not give a shit about morality of anything...I guess that's what Tim told ministers in Poland...
for me the most important thin is the permanent mechanism that is being discussed and pushed mainly by Germans. that's where future of EUR is...
LOL! ok
Hey look, you guys just levered up on the deal!
no, the crisis must go to the point where the masses will finally understand who and why is behind it.
who is behind global warming, swine flu pandemic, oil being priced 50x its real cost. who is behind all wars, 9/11, war on drugs, war on cancer, who makes the most profit: catholic church, big pharma, federal reserve.
probably we need fake alien invasion, ridiculed by celebrities.
or justin bieber to be worth 3 billion while 300 mill americans + 300 mill europeans will be in severe debt
anyone seen the money for the supposed bail out deal yet?
2 days in on the great euro bail out and shock horror.
fuck all.
2 days in on the great euro bail out and shock horror.
fuck all.
The rescue packages won't work because the offenders keep borrowing. Until the PIIGS eliminate their deficits, the crisis won't end. Most of the EU periphery (and the United States) need these huge deficits to stimulate their failing economies. Greece cut their deficit by what? 4% GDP (with another 9% to go), and they are coming apart at the seams....
This rescue deal - *if* it passes - only kicks the can..
This rescue deal - *if* it passes - only kicks the can..